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, jeff bezos is buying "the washington post" for $250 million. bezos, one of the captains of the online world and future of commerce, putting a quarter of a billion dollars of his own money, not amazon money, into a newspaper that is well over 100 years old and part after model that everyone thinks is dieing. we don't have a whole lot of details a letter gone out from the publisher i believe of "the washington post." two employees telling them about the deal. let's remember that newspapers, which used to have really rich margins and still are profitable but have been really hurt by the internet, are becoming an investment for the very rich. ron burkle, the billionaire, pathmark billionaire and david geffen were in buying "the l.a. times." carlos slim, from mexico, one of the world's richest men, rescued "the new york times." jeff bezos of amazon, getting ready to pay for the newspaper itself. many people thought "the washington post" company, most valuable asset inside the company is not the legendary newspaper that led to the watergate investigation that led to resignation of nixon in
the times, "the new york times", had problems with its website this month. "the washington post" experienced this quite of a problem with their web site as well. one more time, "the new york times" now saying that their assessment of the problems at their website, are, quote, the result of a malicious external attack. in english, they're getting hacked. back to you. cheryl: adam shapiro that was the perfect english for this type of attack. adam shapiro with breaking news on "the new york times" website. we'll follow that with you. >>> back to the discussion, we're looking at wells fargo, we're talking about mortgage rates, interest rates, wells fargo, layoffs in the mortgage division. i was surprised by that. that is one of the most profitable divisions for them. what do you make of that? >> rising 10-year. we saw the long end of the curve rise. that means mortgage rates rise. the 30-year mortgage tends to be priced off the 10-year. when that is the case. sure you get a boom of mortgages. people say this is my last chance and people run to the market but history tells us ultimately it slows.
is in the spotlight as jeff bezos buys "the washington post" for a hefty sum, using his own money. he's a believer. what other billionaires are lurking around the newspaper stand and what are they targeting? we're naming names ahead. >>> we would love to hear from you, carl icahn, investor and activist joining us on yesterday's show made his case for why he thinks michael dell is bad for the company and should go as the ceo. out. we want to know if you think carl icahn is good or bad for dell and his activism. log on to we'll read your answers later this hour. ♪ [ male announcer] surprise -- you're having tripts. [ babies crying ] surprise -- your house was built on an ancient burial ground. [ ghosts moaning ] surprise -- your car needs a new transmission. [ coyote howls ] how about no more surprises? now you can get all the online trading tools you need without any surprise fees. ♪ it's not rocket science. it's just common sense. from td ameritrade. david: okay, we just got the numbers for tesla. they ever a big beat. the stock is up almost 10% after-hours. adam sha
into september. the washington will be coming back to work so we think that will bring in some volatility but we like to stick with our best picks out there. good management teams and good growth stories that are out there. david: what if earnings don't catch up to where the stock prices? >> well, again i think, if you're with a great management team they can manage through those lulls and we're longer term investors. so missing a quarter we see as a great opportunity to be buying. david: tim, this is kind of like a no-man's land in the market right now. you know, you're up, you're down but basically you stay flat. we've been there for a while. how much longer? >> it is called a grind and i think that's what you're doing grinding higher right now because conditions are such where there is money coming off the sidelines out of bonds obviously, money markets coming into stocks. cash flows are still there the economic backdrop isn't bad. i think right now it is still the game in town. i don't say i trust the market but nevertheless i think the same thing holds true that held true the entire year ri
in washington. he has been at the forefront of the decisions and discussion which direction the president might be leaning. ashley: has to be what, 30 years ago, now. seems like yesterday. we'll be speaking with a ledge edge dairy investor who literally made billions putting money into distressed companies. we're talking about wilbur ross. he will be here to share his very latest investing ideas with us in just a few minutes. don't go away. ♪ [ male announcer ] this is the age of knowing what you're made o why let erectile dysfunction get in your way? talk to your doctor about viagra. ask if your heart is healthy enough for sex. do not take viagra if you take nitrates for chest pai it may cause an unsafe drop in blood pressure. side effects include headache, flushing, upset stomach, and abnormal vision. to avoid long-term injury, seek immediate medical help for an erection lasting more than four hours. stop taking viagra and call your doctor right away, if you experience a sudden decrease or loss in vision or hearing. this is the age of taking action. viagra. talk to your doctor. ashley: time
people yesterday. i think the consensus in washington that it is larry's to lose. he is very close to the president. even though he left the white house in 2010. liz: despite bette idler? >> yeah. doesn't, who is canadian singer, who loves him. celine dion. i'm joking. anyway, so -- liz: what? >> stay on track here. so he still talks to the president quite a bit on the economy. i checked the white house visitors logs, okay? larry summers left in december 2010. he has been back to the white house 14 times since then. okay? they still talk a lot. janet yellen has been to the white house once in four 1/2 years. david: she knows she has got the job. >> no. i think it's a horse race. david: i don't think so. i think it is yellen's to lose. that's me. that is why i -- >> i cover washington and you cover -- david: we'll see. we'll see. i will put $5 on it. >> i bet you some probiotic yogurt. david: you have got a deal. he thinks it willlbe larry. i think it will be yellen. liz: alan blinder? come on. david: pop star kelly clarkson, is that who you were thinking of? tackling with the brit
the costs of regulations and lowering taxes. isn't it that simple? >> i would like to send to you washington david, so we have lower taxes better regulation, more certainty and more new businesses forming. i'm with you. david: i grew up in washington. jeff, thanks for coming in. >> nice to see you, david. liz: the latest episode in the long running dell drama has investors actually rushing to buy the stocks but not everyone's happy. we asked big-name dell investor donald yacktman, whether he agrees with billionaire carl icahn who says this war is far from over. david: america's jobs machinist still not firing on all cylinders as we were just talking even though the unemployment rate, the overall rate is down. former commerce secretary carlos gutierrez will tell us what it really will take to get businesses hiring again. ♪ does that make a difference? search "cost of financial advisors" oh. over time it really adds up. then go to e-trade and find out how much our advice costs. spoiler alert: it's low. really? yes, really. e-trade offers investment advice and guidance from dedicated, profess
of the washington post sale to amazon ceo. liz: cbs confirming that the network has resumed talks with time warner cable. cbs has been blacked out for more than 3 million time warner cable customers for a whole week david: the president of the fed reserve bank of cleveland announcing that she will retire early next year. also joins that the cleveland fed has led the bank since 2003. right now in a nonvoting member, but there will mr. there. "after the bell" starts right now. ♪ liz: we begin with earnings news from lions gate. adam shapiro has it. >> reporter: propeling new stuff. less the -- listen to this. adjusted earnings per share, $0.18. street expecting eight on revenue of $569 million. point the finger at the hundred games. here is what the chief executive officer said. we are pleased with first quarter results with strong contributions. it goes on to say the fact that our quarter compares favorably, it illustrates the diversity of our business. they are ready to do more with this. we will break it down, but it is upbeat on both lines. david: the only surprise is what is happening after h
of clarity, and between the fed and the kind of the administration, stuff coming out of washington. you know, where is clarity? that's not there. if we get clarity, the economy will adjust, and that's really the problem. david: but, edward, is the problem went you look at what happened today, the big news from the fed next week, but if there's such a downdraft on a week before we're getting news from the fed, what does that mean for the market, is this the beginning of the selloff that has been foretold? >> i think we're going to be stuck in a trading range for the rest of this year. back in june when i was on your show i talked about a range of 1750 to 1550 on the s&p, and i think we still have about 7% downside from here which would be very, very constructive, it would be healthy, it would be back to the rising 200-day moving average and revisit the june lows of this year, and i think that's, you know, perfectly acceptable. right now we do have to kind of navigate through this tapering issue. i think the price fixing that we've seen in the bond market for quite some time needs to come to a
joining us live from washington d.c. peter, i was wondering if the rules against delivering alcoa who date back to prohibition? >> they do, david. they have the roots in the temperance movement. now that the postal service is getting into the 21st century this issue has been bottled up in congress. sorry, that's my pun for the day. in conference call with reporters, postmaster general patrick donahoe, said delivery of alcoholic beverages is on his legislative wish-list as the agency considers ways to gain revenue after losing $16 billion last year and faces more billions this year. the postal service could raise as much as $50 million in revenue a year. >> there are laws around alcohol in the mail date back over 100 years. and we think that, that the world's changed dramatically and customers are looking for a lot more flexibility. >> right now ups and fedex have a lock on the alcohol beverage shipping business. the postal service has been banned from delivering alcoholic beverages since 1909, when congress passsd a law apparently in response to the temperance movement which was growing at
of the federal government, shotgun weddings, during the crisis. washington mutual and of course countrywide financial, that's a great story. and they're being fined for what those guys did and they were forced to take them over. david: they're being fined because of what they were forced to do by the people who are now fining them? >> exactly. david: we have to leave it at that. george malone, columnist for "the wall street journal" the man who, i don't know may have made a mistake but maybe not by hiring me 30 years ago. >> i don't think so. david: thank you very much, george. cheryl, over to you. cheryl: he needs to stick around. i want stories. >>> the hybrid wars are revving up as ford increases its share of the hybrid market. toyota is fighting back. jeff flock talks to a top toyota executive about the company's battle to be number one. ♪ weekdays are for rising to the challenge. they're the days to take care of business. when possibilities become reality. with centurylink as your trusted partner, our visionary cloud infrastructure and global broadband network free you to focus on wh
at this point to what we will see in that that ceiling debate in washington? >> they sure do. it is almost like the little boy that cried wolf. that is really what this situation is. >> it does not make you a little cautious on equities? you have that and the taper and what is happening in the middle east. these are all red flags. >> again, take syria out of the question. out of the conversation. the underpinnings are still good. i do not think that the taper will affect the marketplace that much. the general feeling is, okay, it will happen in september. i think that almost is off the table as far as how it affects the marketplace. the other issue, for right now, i do not think anyone is thinking beyond syria or beyond the tapering. i just do not see the marketplace selling off on that. it is quite opposite of what your guest just said. there is still record amounts of cash on the sideline. i do not see where it is coming in. i do think that any pullback that we will see will be flushed with buyers coming into this market. >> i would 100% agree. there is a lot of ammo on the sidelines. there a
banking regulations coming out of washington, coming out of the fed somehow help you in a way as it's more difficult for a bank to attract capital, maybe that makes it easier for you to attract capital, no? >> well, i mean, you could look at it that way, david, but sometimes these regulations become so complicated and overburdensome, nobody even understands them. and when you don't understand them and it's tough to be in compliance, people don't participate. i'm a big believer in havingless regular haitian -- less regulation. putting more teeth into the rules. have a rule to have a rule,o right? so i think we need to compete in the global marketplace. you know, we've passed out frng here in the united states, we're still waiting for europe and their regulations. so, you know, we've gone a long way in your regulations -- our regulations, so let's not keep piling them on to pile thhm on. let's put teeth in the laws we have on the books. liz: there was a day, i'm guessing it was around june 19th because i was in chicago for your pinnacle awards there. but that day a lot of traders ran up to m
% of the deadlines for the rules have been missed. i want you to start off outside of washington in front of a room full of business be people, how is it possible for the government to mix 60% of its deadlines? >> well, i think that the study you're referring to has certain flaws in terms of how it defines progress made and work remaining. but i don't want to get into the details of that particular study. the dodd-frank law was an enormous piece of legislation that is the most fundamental change in our financial system in 75 years. the decisions that are being made if writing the rules are -- in writing the rules are highly consequential in terms of protecting our system from future crises, from protecting taxpayers from being exposed to the kinds of risks and costs that occurred after the financial crisis, and at the same time maintaining what is the most effective financial market in the world so that we remain the world leader, financing capital expansion in the united states and the smooth, orderly business operations in the united states. i think that some of the reports on the meeting got the
was hearing on mr. summers preemptively which is sort after standard washington exercise, that i don't like because when somebody's worked hard for me and worked hard on behalf of the american people, and i know the quality of those people, and i see them getting slapped around in the press, for no reason, before they even been nominated for anything, then i want to make sure that somebody is standing up for them. >> the president said that he wants to make sure, as he evaluates his candidates for this job that they are focused on the dual mandate. yes, make sure that inflation doesn't get out of control but he really emphasized the other side of the mandate, low unemployment, job creation, and made it clear that that's very important to him as he goes forward in deciding who is going to take over for ben bernanke when leaves. david and lori. david: peter barnes, inside the beltway right in front of the white house. thank you, peter. good stuff, appreciate it. lori: get this. new details on that meteor rocking russia early they are year, injuring more than one thousand people. what caused t
in washington. >> i think that is the big 800-pound gorilla in the room. the reality is folks are looking for a yield. and whether that be on a dividend or -- it is not in bonds. they're is a lot of money on the sidelines. it is just going to basically push this market ahead and move it forward. i think in the long run we still have room to grow. whether we take a step back temporarily or not, knows a mob of recently have been 800-pound gorilla to be able to a kind of address. i think long-term i am optimistic. don't get caught, don't get sucked in to the over exposure in the equity market and then be heard on the downside because of some point we will have some kind of a marker retraction. liz: certainly good advice. before we let you go, you began by saying it was quite quiet and things got rather heated. can you just let our viewers in on what really goes on in the pit behind your after the markets of closed? >> after the market's close peoples are look around and realize we have tea in my numbers, the fed notes coming up tomorrow. we have a lot of things. three housing numbers coming
joins us live from washington, d.c. with more. peter? >> ashley and liz, the president beginning this up on -- ginning this up on friday when he talked about the consideration of head nominees, potential nominees. he talked about of course larry summers his former economic visor and current vice chairman of the fed, janet yellen. he also said he was considering a couple of other candidates. sources have confirmed the president is also considering another former fed vice-chair, don kohn. who is the fourth candidate? the white house is not commenting on that. but former fed economist, roberto pelrli took a crack at it. he thinks roger ferguson, head of tiaa cref, could be a candidate. princeton professor align blinder, northerly former vice-chair. the vice chairs are all over the place could be in the mix with fed governor jeremy stein. perli thinks summers is the front-runner but like yellen he would probably support continuing bernanke's easy money policies. >> the differences between summers, yellen or anybody else i think are fairly contained. i think there will be volatility but i don
Search Results 0 to 16 of about 17